Samsung expects profits to plummet in third quarter

Seoul: Samsung Electronics said Tuesday it expected operating profits to drop more than 50 per cent in the third quarter amid a continued slump in the global chip market.

Operating profit for July to September was expected to reach 7.7 trillion won (Dh23.7 billion), down 56.2 per cent from a year earlier, the world’s largest maker of smartphones and memory chips said in a statement.